Stocks Surge on Central Bank Swap Rate Reductions

The alpha phase rally of the new short-term cycle has rebounded sharply off of the Short-Term Cycle Low (STCL) last week and we continue to monitor the character of the reaction for the next assessment of stock market health.

Although stocks cheered the Federal Reserve announcement today, the swap rate reduction signals that central banks are extremely concerned about the developing sovereign debt crisis and we will have to see how markets behave moving forward. The stock market remains within a critical window and price behavior during the next few weeks could produce an important signal with respect to long-term direction, so we will continue to watch closely. We will identify the key developments as they occur in our daily market forecasts and signal notifications available to subscribers.

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